The Company, the owner and operator of "Xidelong" brand, a domestic sportswear brands in China, issued its audited financial results for the full year ended December 31, 2011.
China stocks have dominated some of the top gainers on NASDAQ for weeks, regaining compliance and restating financials and cleaning up the image of China stocks to US and global investors
Financial Highlights - Full Year ended December 31, 2011 (audited) (1)
Revenue was RMB3, 288.6 million (US$522.5 million), representing a 21.8% year-over-year increase.
Gross profit was RMB992.3 million (US$157.7 million), representing a 17.9% year-over-year increase. Gross margin decreased from 31.2% for 2010 to 30.2% for 2011.
Operating profit was RMB498.2 million (US$79.2 million), representing a 21.6% year-over-year increase.
Net profit was RMB470.1 million (US$74.7 million), representing a 33.1% year-over-year increase..
Exceed Company Ltd. designs, develops and engages in wholesale of
footwear, apparel and accessories under its own brand, XIDELONG, in
China. Since it began operations in 2002, Exceed has targeted its growth
on the consumer markets in the second and third-tier cities in China.
Exceed has three principal categories of products: (i) footwear, which
comprises running, leisure, basketball, skateboarding and canvas
footwear, (ii) apparel, which comprises sports tops, pants, jackets,
track suits and coats, and (iii) accessories, which comprise bags,
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